EveryMatrix Sets New Revenue and Profit Margin Records in Q2 2024

EveryMatrix has firmly established itself as the fastest-growing iGaming technology supplier, achieving its highest-ever quarterly profit margin in Q2 2024. The global tier-1 software provider reported a record high quarterly net revenue of €42.4 million across all products, marking a 57% Year-on-Year (YoY) increase. Simultaneously, the company set an all-time high profit margin of 59%, maintaining its impressive streak of growth and profitability for the fifth consecutive quarter.

Q2 2024 EBITDA rose to €25.1 million from €22.3 million in Q1, representing a 67% YoY increase. This exceptional quarter was driven by significant customer launches, positive sports trading margins, and continued growth in core business units of casino and sportsbook. This financial success comes just six months after EveryMatrix recorded the strongest annual financial results in its history.

The 1,000-employee strong company recently enhanced its turnkey sportsbook offering with the acquisition of FSB Technology. This acquisition is set to bolster OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds division, generating immediate additional revenues and cross-company synergies. It also establishes a stronger presence in the UK, Ireland, and Africa, where FSB has developed a significant market share.

The Casino segment generated an eleventh consecutive record quarterly performance with Gross Gaming Revenue (GGR) of €658 million, up 53% YoY. The GGR for the last 12 months reached €2.3 billion, a 69% YoY increase. Quarterly casino net revenue rose to €21.9 million, up 73% YoY, while EBITDA reached €14.7 million, reflecting a 93% YoY increase. The SlotMatrix aggregation product introduced 1,047 unique game titles and integrated six new vendors, bringing the total to 163.

OddsMatrix saw a quarterly sportsbook turnover rise of 48% YoY to €1.2 billion and €4.6 billion for the last 12 months, reflecting a 56% YoY increase. GGR was up 67% YoY to €95 million. Net revenue for Q2 2024 reached €11.3 million, up 44% YoY, while EBITDA hit €7.2 million, reflecting a 65% increase. OddsMatrix achieved a record of 176,000 live events in a single month and a total of 500,000 during the quarter, driven by the addition of premium content, table tennis, and new esports events. The average monthly number of bets placed reached 36.5 million.

The Platform segment saw Q2 net revenue rise 35% YoY to €7.8 million, with EBITDA at €3.4 million, up 26% YoY. The EveryMatrix Player Account Management (PAM) system set a new record with 255,000 bets per minute at peak times. The total amount of successful payment transactions reached €3.8 billion, an 80% YoY increase.

The Affiliate Platform division, including PartnerMatrix and the newly rebranded PartnerMatrix Intelligence, saw net revenue reach €1.4 million during the quarter, up 66% YoY. EBITDA decreased to -€0.15 million due to continued product and commercial investment. The newly merged business unit signed 26 new customers during the quarter.

Ebbe Groes, Group CEO of EveryMatrix, expressed his enthusiasm: “It’s difficult to know what to say when our results just keep getting better and better! Our sustained growth benefits not just our business, but also our customers, ensuring they continue to break their own records month after month. The acquisition of FSB Technology and the strengthening of PartnerMatrix with PartnerMatrix Intelligence are just two great examples of how we’re continuing to build on our success and grow our customers even more. We have enormous momentum, and I can’t wait to see what happens next.”

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• Acquisition of FSB Technology, enhancing sportsbook technology and expanding market presence in the UK, Ireland, and Africa.
• Rebranding of PartnerMatrix Intelligence to create an all-in-one affiliate management and data tracking powerhouse.
• Launch of the first US casino content aggregation partner with Supremeland Gaming, Inc on DraftKings via SlotMatrix in New Jersey.
• Recognition as Casino Software Supplier and Aggregator platform at EGR Awards; SlotMatrix named Aggregator of the Year at CasinoBeats Developer Awards.
• Promotion of Mihnea Dobre to Group Chief Technology Officer.
• CasinoEngine surpassed 6 billion monthly game rounds and €6 billion monthly turnover.
• OddsMatrix reached a record 176,000 live events in a single month.

EveryMatrix continues to deliver iGaming software, solutions, content, and services for casino, sports betting, payments, and affiliate management to global Tier 1 operators and emerging brands. The platform is modular, scalable, and compliant, allowing operators to combine EveryMatrix solutions with third-party and in-house technology.

As a member of the World Lottery Association (WLA) and European Lotteries Association, EveryMatrix was the first iGaming supplier to receive WLA Safer Gambling Certification in September 2023. The company is committed to safer gambling and player protection while producing market-leading gaming solutions.

Sources:

EveryMatrix Continues Strong Revenue Growth Recording All-Time High Profit Margin, everymatrix.com, July 23, 2024.